07.Oct .2022 14:30

China's foreign exchange reserves down by $25.9B in September

China's foreign exchange reserves down by $25.9B in September
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China's foreign exchange reserves totaled 3.029 trillion U.S. dollars at the end of September, down 25.9 billion U.S. dollars from the end of August, data from the State Administration of Foreign Exchange showed Friday.

"Cross-border capital flows were generally stable in September, and supply and demand in the domestic foreign exchange market remained generally balanced," said Wang Chunying, deputy director and spokesperson of the administration.

Wang attributed the decrease in foreign exchange reserves to factors including exchange rate conversion and asset price changes. On the global financial market, the U.S. dollar index rises and the price of global financial assets declines sharply, Xinhuanet reports.